ICICI Bank has reduced its overnight and three months marginal cost of lending rate by 5 basis points to 8.70 and 8.80 percent respectively. ICICI Bank has also reduced its one year lending rate to 8.90 percent from 8.95 percent earlier. Revised rates are effective from 1st December, 2016.

30th Nov 16 ICICI Bank fixed deposit rates cut by 55 basis points

ICICI Bank has reduced its one year bulk fixed deposit (more than Rs. 1 crore) rate by 55 basis points. The revised fixed deposit rate of ICICI Bank is now 6 percent. New rates are effective from 29th November, 2016.

Given the trend of going cashless in payments and transactions post demonetization, ICICI Bank has decided to transform 100 villages into digital villages across the country in 100 days. Under the plan, the bank will work towards providing cashless payment system, vocational training and credit linkages to the villagers.

ICICI Bank has reduced its fixed deposits rates by 25 basis points to 7 percent for one year to 389 days. Fixed deposits rate for 390 days to two years tenure is also reduced by 15 basis points to 7.10 percent from 7.25 percent. The revised fixed deposits rates for two to five year ICICI Bank FD are now 7 percent instead of 7.25 earlier. New rates would be effective from 17th November, 2016.

08th Nov 16 ICICI profit rises modestly as bad loans surge

ICICI Bank reported a modest 2 percent rise in net profit in September quarter to Rs. 3,102 crores. Bank posted its highest quarterly increase in bad loans in ten years. ICICI gross NPAs more than double to Rs. 32,158 crores from Rs. 15,857 crores in the same quarter last year.

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